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Bear State Bank and Arvest Bank have exciting news to share today. An agreement has been signed where Arvest will acquire Bear State and come together as one customer-focused bank. The acquisition of Bear State Bank meets two strategic goals for Arvest – entry into attractive new markets for the bank, and an expansion of customer base and branches in existing Arvest markets. We’re excited to welcome Bear State Bank customers and associates to Arvest and look forward to working together in the future.

FAYETTEVILLE, Ark. (Aug. 22, 2017) – Arvest Bank (“Arvest”) announced today it has entered into a definitive agreement to acquire Bear State Financial, Inc. (“Bear State”) (NASDAQ:BSF), the parent company of Bear State Bank. The acquisition, expected to close in the fourth quarter of 2017 or first quarter of 2018 pending customary regulatory approvals and subject to approval by Bear State shareholders, is an all-cash transaction valued at approximately $391 million.

Bear State Bank operates 42 branches and three personalized technology centers in Arkansas, Missouri and Oklahoma, while Arvest operates more than 250 branches in Arkansas, Kansas, Missouri and Oklahoma. As of June 30, 2017, Bear State had total assets of $2.24 billion and total deposits of $1.7 billion in 34 communities. As of June 30, 2017, Arvest had total assets of $17.30 billion and total deposits of $14.98 billion in 120 communities.

“This is a strategic move for us and one made after much careful consideration,” Arvest president and CEO Kevin Sabin said. “In addition to giving us the opportunity to expand into some new communities, this deal also allows us to strengthen our presence in some existing markets.

“Because Bear State is such a solid company with dedicated employees – and because both banks are so committed to their communities – we believe this will be a great fit. From outstanding products and services to superior customer service, Arvest shares a lot of similarities to Bear State and we look forward to serving all of our customers – old and new – with the same courtesy, competency and care as we always have.”

Of the 34 communities where Bear State operates, 18 are markets where Arvest has banking operations while 16 markets will be new communities for Arvest – most notably communities in northeast Arkansas, southwest Arkansas, southern Missouri and southeast Oklahoma. Arvest Bank and Bear State customers will not notice any immediate changes, and both banks will continue to conduct business as usual. A full conversion of systems and accounts will occur in 2018, and Arvest Bank will be communicating with Bear State customers over the next several months regarding their transition to Arvest Bank.

Additionally, all those employed by Bear State on the date of contract closing will become employees of Arvest Bank.

Arvest Bank, named by Forbes magazine as one of “America’s Best Large Employers” for 2017, operates more than 250 bank branches in Arkansas, Oklahoma, Missouri and Kansas through a group of 16 locally managed markets, each with its own local board and management team. These banks serve customers in more than 120 communities, with extended weekday banking hours at many locations. Arvest also provides a wide range of banking services including loans, deposits, treasury management, credit cards, mortgage loans and mortgage servicing. Arvest is an Equal Housing Lender and Member FDIC.

About Bear State Financial

Bear State common stock is traded on the NASDAQ Global Market under the symbol “BSF.” For more information on Bear State, please visit www.bearstatefinancial.com. Its principal subsidiary, Bear State Bank, is a community oriented financial institution providing a broad line of financial products to individuals and business customers. Bear State Bank operates 42 branches, three personalized technology centers equipped with interactive teller machines and three loan production offices throughout Arkansas, Southwest Missouri and Southeast Oklahoma.

Also, starting Tuesday, Jan. 3, 2017, some Arvest Bank branches in the Springdale, Ark., area will have revised hours.

NEW HOURS for branches listed below

Huntsville Main (104 S. Hughes)

Lobby Hours 8 a.m. – 5 p.m. (M-F) and CLOSED (Sat.)

Drive-Thru Hours 8 a.m. – 5 p.m. (M-F) and CLOSED (Sat.)

Springdale East (3263 E. Robinson Ave.)

Lobby Hours 8 a.m. – 6 p.m. (M-F) and 9 a.m. – 1 p.m. (Sat.)

Drive-Thru Hours 7:30 a.m. – 6 p.m. (M-F) and 9 a.m. – 1 p.m. (Sat.)

Springdale Main (415 W. Emma Ave.)

Lobby Hours 8 a.m. – 5 p.m. (M-F) and CLOSED (Sat.)

Drive-Thru Hours 7 a.m. – 6 p.m. (M-F) and 9 a.m. – 1 p.m. (Sat.)

Springdale South (2012 S. Pleasant)

Lobby Hours 8 a.m. – 6 p.m. (M-F) and 9 a.m. – 1 p.m. (Sat.)

Drive-Thru Hours 7 a.m. – 7 p.m. (M-F) and 9 a.m. – 1 p.m. (Sat.)

Springdale West (3950 W. Sunset Ave.)

Lobby Hours 8 a.m. – 6 p.m. (M-F) and 9 a.m. – 1 p.m. (Sat.)

Drive-Thru Hours 7 a.m. – 7 p.m. (M-F) and 9 a.m. – 1 p.m. (Sat.)

Tontitown (918 E. Henri De Tonti Blvd.)

Lobby Hours 8 a.m. – 6 p.m. (M-F) and CLOSED (Sat.)

Drive-Thru Hours 7:30 a.m. – 6 p.m. (M-F) and 9 a.m. – 1 p.m. (Sat.)

We are revising our hours because we noticed a change in customer preferences for interacting with us; more customers now utilize online and mobile banking channels to open accounts, deposit checks, pay bills, manage their money, etc.

For your convenience you can bank 24 hours a day, 7 days a week using:

Rich Mountain Community College debit card FREE to current and new Arvest customers.**

Enter to win an RMCC gift basket.

Thursday, Oct. 31

Come check out our fall festivities and pick up a treat-filled goodie bag!

Vote for your favorite pumpkin in our Pumpkin Decorating Contest by donating your spare change to our 1 Million Meals Campaign. Stop by and enter your name in a drawing for a Stewman's Flowers & Candy fall centerpiece.

Friday, Nov. 1

Mena Bearcat debit card FREE to current and new Arvest customers.**

10:30 a.m. A full day of festivities begins with a ribbon-cutting ceremony and check presentation to Louise Durham Elementary.*

11 a.m. Drawing for a $50 Arvest gift card. Grab some lunch on us! Our crew will fire up the grill and serve hamburgers and ice-cold refreshments.

Noon Drawing for a $50 Arvest gift card.

1 p.m. Drawing for a $50 Arvest gift card.

2 p.m. Drawings for three gift baskets, valued between $120 and $125 each! One is Arkansas Razorback-themed, one is coffee-themed and one is car cleaning-themed.

For more information, please call (479) 394-8210.

May enter drawings in person or by submitting name, phone number and/or email address to klwilliams@arvest.com. Anyone may enter. Do not need to be present to win. **$50 minimum to open account.Links marked with * go to a third-party site not operated or endorsed by Arvest Bank, an FDIC-insured institution.

We’ve had an exciting month in our Joplin, Mo., region with ribbon cutting ceremonies for six branches! The new branches in Missouri are located in the following cities: Monett, Nevada, Joplin, Carthage and Lockwood. The sixth new branch in the region is in Pittsburg, Kan. The branches officially opened their doors in March and have been eager to get involved in the local community. Here are the specifics on each branch.

Investment products and services are provided by Arvest Investments, Inc., doing business as Arvest Asset Management, member FINRA/SIPC, an SEC registered investment adviser and a subsidiary of Arvest Bank. Trust services are provided by Arvest Bank. Insurance products are made available through Arvest Insurance, Inc., which is registered as an insurance agency. Insurance products are marketed through Arvest Insurance, Inc., but are underwritten by insurance companies.
Securities and Insurance Products: Not Insured by FDIC or any Federal Government Agency, May Lose Value, Not a Deposit of or Guaranteed by a Bank or any Bank Affiliate.